Executives at a brewery, a ski resort and a health care group purchasing organization testified Wednesday in D.C. federal court that a proposed $3.5 billion merger between Sysco Corp. and US Foods Inc. would leave the food distribution giants without a clear competitor as the Federal Trade Commission tries to block the deal.
JPMorgan Chase & Co. had no immediate comment Wednesday after a news report said French authorities have filed preliminary criminal tax fraud charges against the bank related to financing it provided senior managers at a French investment firm as they restructured holdings worth more than $360 million and deferred tax payments.
Federal prosecutors on Wednesday filed charges accusing a former MillerCoors LLC vice president and seven others of running a $7 million scheme to defraud the brewing giant by billing it for promotional and media events that never took place.
The Second Circuit on Wednesday affirmed Pandora Media Inc.'s victory over efforts by large publishers to pull their catalogs from collective licenses and strike more lucrative direct deals with the Internet radio giant.
Abbvie Inc., led by Wachtell Lipton Rosen & Katz, priced a $16.7 billion bond offering late Tuesday to help fund its $21 billion bid for cancer-drug maker Pharmacyclics Inc., making the U.S. pharmaceutical giant the latest to roll out a multibillion-dollar debt deal amid favorable interest rates.
The U.S. Department of the Treasury on Tuesday hit Ripple Labs Inc. with a $700,000 fine in its first-ever virtual currency enforcement action, after the San Francisco startup failed to register with the Financial Crimes Enforcement Network and sufficiently implement anti-money laundering protections.
A Sysco Corp. attorney told a D.C. federal court Tuesday that the Federal Trade Commission had drawn false boundaries between different types of food distributors to sell its claim that the company’s proposed $3.5 billion merger with rival US Foods Inc. would hurt nationwide hotel and restaurant groups.